Genomatica announced today that it has raised $45 million in funding, which the company will use to complete demonstrate-scale production and early commercialization efforts for its first product, biobased 1,4-butanediol (BDO). The money will also be used to advance other biobased chemicals in the company’s pipeline....

DuPont stood behind its previously announced outlook for its Applied Bioscience business, saying it still expects biofuels and biomaterials to generate a combined $1 billion in revenues and $250 million in earnings by 2015....

Biochemical maker Myriant Technologies says it has signed a memorandum of understanding (MOU) with Davy Process Technology (DPT; London), a Johnson Matthey subsidiary, covering the use of Myriant’s biobased succinic acid in DPT’s butanediol, tetrahydrofuran, and gamma-butylolactone process technology. The MOU covers the non-exclusive testing and approval of Myriant’s succinic acid as feedstock for the DPT process and an exclusive joint development agreement to integrate Myriant’s biobased succinic acid technology with Davy butanediol technology....

Lanxess says it has increased its minority stake in Gevo (Englewood, CO) to 9.1% after investing $17 million in the biofuel and biochemical firm’s IPO last week. The move reflects “the good progress,” made by both companies in developing isobutene from renewable resources, says Lanxess....